This week on our Masters in Business radio podcast, we speak with Nick Murray. He is known as the Advisors’ Advisor, coaching and informing the financial services industry as to the proper way of managing their practices.

via Barry Ritholtz

Murray is the author of the 11 books on financial services, including Simple Wealth, Inevitable Wealth. His newsletter has a cult following amongst the advisor industry.

It may be a little behind the scenes/inside baseball for the layperson, but I found our conversation fascinating.

Financial Advisor Nick Murray

Listen to the show live on Bloomberg Radio.  The full podcast will be available soon after on iTunesSoundCloud and on Bloomberg. Earlier podcasts can be found on iTunes and at BloombergView.com.

Simple Wealth, Inevitable Wealth – Description

Simple Wealth, Inevitable Wealth by Nick Murray

The wealth-building process described in this book is simple, but it isn’t easy. But if you can muster the required amounts of faith, patience and discipline – and if you can draw those qualities from your advisor when your own are running low – history suggests that wealth follows over time.

Preface:

Over the course of the last three decades, I’ve been an advisor to individual investors, and now – for want of a better description – an advisor to other financial advisors. This book will tell you absolutely everything of critical importance that learned about investing during that time. That’s the good news. It may also be the bad news. It’s potentially good news because if one labors diligently and lovingly at this profession for over thirty years, as I’ve tried to do, one learns an awful lot about how markets and investments really work. I need hardly add that, in investing as in life, one learns virtually all great lessons the hard way. At least I did. One also discovers the few big things that really matter in successful investing. One does this by experimenting with, and then discarding, the multiplicity of stuff that turns out not to matter much, or to be just plain unknowable.That painstaking learning process at some point prompted me to say, ‘Let me write a little book for my fellow seekers of wealth, so that they can easily learn everything I know with-out having to make all my mistakes. And in that book, let me tell people just the ultimate essentials, so that they don’t have to spend a lot of time and energy learning to filter out then noise.’

Masters In Business: Nick Murray

Simple Wealth, Inevitable Wealth by Nick Murray